Press Release regarding acquisition of Common Shares of Newcrest Mining Limited
Retrieved on:
Thursday, May 20, 2021
b'SAINT PETER PORT, Guernsey, May 20, 2021 (GLOBE NEWSWIRE) -- Allan & Gill Gray Foundation (the \xe2\x80\x9cFoundation\xe2\x80\x9d), a Guernsey foundation having its registered office at Redwood House, St. Julian\xe2\x80\x99s Avenue, Saint Peter Port, Guernsey GY1 1WA, today announces that on May 18, 2021 Allan Gray Australia Pty Limited and Orbis Investment Management Limited, indirect subsidiaries of the Foundation that operate as separate business units, disposed of an aggregate of 360,863 Common Shares of Newcrest Mining Limited (\xe2\x80\x9cNewcrest\xe2\x80\x9d), a company with a head office at Level 8, 600 St. Kilda Road, Melbourne, Victoria, Australia 3004.
Key Points:
- b'SAINT PETER PORT, Guernsey, May 20, 2021 (GLOBE NEWSWIRE) -- Allan & Gill Gray Foundation (the \xe2\x80\x9cFoundation\xe2\x80\x9d), a Guernsey foundation having its registered office at Redwood House, St. Julian\xe2\x80\x99s Avenue, Saint Peter Port, Guernsey GY1 1WA, today announces that on May 18, 2021 Allan Gray Australia Pty Limited and Orbis Investment Management Limited, indirect subsidiaries of the Foundation that operate as separate business units, disposed of an aggregate of 360,863 Common Shares of Newcrest Mining Limited (\xe2\x80\x9cNewcrest\xe2\x80\x9d), a company with a head office at Level 8, 600 St. Kilda Road, Melbourne, Victoria, Australia 3004.
- The Common Shares were sold by Allan Gray Australia Pty Limited and Orbis Investment Management Limited through the Australia Securities Exchange for prices between AUD 28.02 and AUD 28.07 per share, for the total consideration of AUD $10,123,557 (approximately, CAD $9,516,134).\nPrior to the transactions, the Foundation beneficially owned, or had control or direction over, 81,803,438 Common Shares and 129,339 American Depositary Receipts, representing 10.02% of the outstanding Common Shares of Newcrest.
- Immediately following the transactions, the Foundation beneficially owned, or had control or direction over, 81,442,575 Common Shares and 129,339 American Depositary Receipts, representing 9.98% of the outstanding Common Shares and a decrease of approximately 0.04% (note, percentages may not add up due to rounding).
- Of these Common Shares and American Depositary Receipts:\nAllan Gray Australia Pty Limited controls but does not beneficially own 28,440,860 of the Common Shares, representing 3.48% of the outstanding Common Shares of Newcrest, on behalf of client accounts over which it has discretionary trading authority.\nOrbis Investment Management Limited controls but does not beneficially own 48,410,240 of the Common Shares and 129,339 of the American Depositary Receipts, representing 5.92% of the outstanding Common Shares of Newcrest, on behalf of client accounts over which it has discretionary trading authority.\nEmCap Limited, a subsidiary of the Foundation, has ownership and control over 9,850,316 Common Shares, representing 1.21% of the outstanding Common Shares of Newcrest.\nThe Common Shares and American Depositary Receipts referred to above were sold in the ordinary course of business, for investment purposes only and not for the purpose of exercising control or direction over Newcrest.